BEDI Bhd (XKLS:6378) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


XKLS:6378 BEDI Bhd XKLS:6378
39 GF Score
Price RM0.50
GF Value RM0.18
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is BEDI Bhd Beneish M-Score?

BEDI Bhd XKLS:6378 -2.91% 39 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates XKLS:6378 with a GF Score™ of 39/100 and a GF Value™ of RM0.18 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 388 Building Materials companies, BEDI Bhd ranks worse than 257731.7% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for BEDI Bhd's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of BEDI Bhd was -1.53. The lowest was -3.00. And the median was -2.49.

BEDI Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BEDI Bhd's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

BEDI Bhd Beneish M-Score Chart

BEDI Bhd Annual Data
Trend Mar15 Mar16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.87 -2.78 -3.00 -2.43 0.00

BEDI Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.17 -2.70 -2.32 -2.85 0.00

XKLS:6378 vs CRH, VMC, MLM: Beneish M-Score Comparison

For the Building Materials subindustry, BEDI Bhd's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

BEDI Bhd Beneish M-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, BEDI Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where BEDI Bhd's Beneish M-Score falls into.


XKLS:6378
39GF Score
BEDI Bhd XKLS:6378
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BEDI Bhd Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of BEDI Bhd for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM24.25 Mil.
Revenue was 13.713 + 11.533 + 23.82 + 25.704 = RM74.77 Mil.
Gross Profit was 4.698 + 3.814 + 6.444 + 6.686 = RM21.64 Mil.
Total Current Assets was RM199.63 Mil.
Total Assets was RM362.45 Mil.
Property, Plant and Equipment(Net PPE) was RM21.16 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.51 Mil.
Selling, General, & Admin. Expense(SGA) was RM10.54 Mil.
Total Current Liabilities was RM145.84 Mil.
Long-Term Debt & Capital Lease Obligation was RM14.81 Mil.
Net Income was 3.864 + -0.694 + 1.778 + 2.053 = RM7.00 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 7.774 + 14.414 + 12.679 + 6.497 = RM41.36 Mil.
 Total Receivables was RM0.00 Mil.
Revenue was 18.877 + 24.914 + 30.572 + 82.28 = RM156.64 Mil.
Gross Profit was 0.957 + 8.289 + 9.743 + 37.652 = RM56.64 Mil.
Total Current Assets was RM0.00 Mil.
Total Assets was RM0.00 Mil.
Property, Plant and Equipment(Net PPE) was RM0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.69 Mil.
Selling, General, & Admin. Expense(SGA) was RM15.03 Mil.
Total Current Liabilities was RM0.00 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(24.252 / 74.77) / (0 / 156.643)
=0.324355 / 0
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(56.641 / 156.643) / (21.642 / 74.77)
=0.361593 / 0.289448
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (199.629 + 21.156) / 362.45) / (1 - (0 + 0) / 0)
=0.390854 /
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=74.77 / 156.643
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(3.691 / (3.691 + 0)) / (3.506 / (3.506 + 21.156))
=1 / 0.142162
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(10.537 / 74.77) / (15.03 / 156.643)
=0.140926 / 0.095951
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((14.808 + 145.841) / 362.45) / ((0 + 0) / 0)
=0.443231 /
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(7.001 - 0 - 41.364) / 362.45
=-0.094808

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
BEDI Bhd (XKLS:6378) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BEDI Bhd and its competitors. According to the industry distribution chart, BEDI Bhd ranks #999999 out of 388 companies in the Building Materials industry.
Is BEDI Bhd's Beneish M-Score too high?
BEDI Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, BEDI Bhd ranks #999999 out of 388 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, BEDI Bhd has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BEDI Bhd's Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, BEDI Bhd ranks #999999 out of 388 companies for Beneish M-Score. This places BEDI Bhd in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Building Materials company?
A good Beneish M-Score depends on the Building Materials industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BEDI Bhd and its competitors. BEDI Bhd's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BEDI Bhd stock overvalued right now?
Based on GuruFocus' analysis, BEDI Bhd (XKLS:6378) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.18, compared to a current price of RM0.50 — trading 177.8% above its estimated fair value. The current Beneish M-Score is 0.00. BEDI Bhd's overall GF Score™ is 39/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For BEDI Bhd (XKLS:6378), the current Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is BEDI Bhd (XKLS:6378) Overvalued in 2026?

Based on GuruFocus' analysis, BEDI Bhd stock appears to be overvalued. The current stock price of RM0.50 is trading 177.8% above its estimated GF Value™ of RM0.18. GuruFocus considers BEDI Bhd to be Significantly Overvalued.

Key valuation signals for XKLS:6378:

  • Beneish M-Score: 0.00
  • GF Value™: RM0.18 vs. price of RM0.50 (177.8% above fair value)
  • GF Score™: 39/100 with 9 warning signs

No single metric tells the full story. See the XKLS:6378 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

BEDI Bhd Business Description

Address Jalan Indah Jaya, Jalan Lintas Selatan, Wisma WMG, Lot 1 & 2, Taman Indah Jaya, Sandakan, SBH, MYS, 90000
BEDI Bhd Formerly WMG Holdings Bhd is a Malaysia-based investment holding company. Along with its subsidiaries, the company operates in three reportable segments: the Property development segment, which includes the development of residential and commercial properties; Property letting, and property management; Trading of building materials, which includes wholesaling and retailing of hardware, building materials, and related goods; and the Others segment. Its projects are located in Kota Kinabalu and Sandakan. The majority of the group's revenue is generated from the Property development segment.
39GF Score

Get the complete analysis for XKLS:6378

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM0.50
Price
RM0.18
GF Value